The project, owned by Larry Hollenbeck’s Lageoc Ltd., took four years and $4 million to complete, the company said in a written statement.

“With a new idea not readily accepted in the banking industry, Larry (Hollenbeck) has had to build the park with mostly cash out of pocket,” the statement said. Hollenbeck “did have financing packages put together to finish the project but had the deals fall apart due to the economy.”

Pirate’s Island employs 33 people. It is open seven days a week and will offer swim classes and water exercise classes starting in November.

It plans a grand opening for Oct. 24. SWAT is at 5053 Sports Drive, near N Avenue and Ninth Street.